Squid Moon Review: Legit or Scam?

I have to confess, I’m not a fan of any ‘Squid game’ or Squid-themed token. The truth is, 99 percent of anything with squid on it has turned out to be one scam after another. I called the Squid scam last month,  and I also called the angry squid scam this month.

Squid Moon token is the latest ‘Squid game’ themed token that is turning the heads of investors. If you are looking to invest in this token, maybe you are curious about the token, you are in the right place. This review was written with you in mind.

Let’s find out if it is another scam waiting to happen.

Before I start, you need to know that 

I’m not a banker or financial expert. I will not be held responsible for your financial decisions. This article is just for educational purposes, consider it a form of entertainment. I didn’t write this review to promote or disparage any coin. I consider my analysis to be objective and fair. If you are not satisfied with the things I say, no problem. You are encouraged to always do your research, whether you agree with me or not.

Here are the things I checked, as I plowed through Squid Moon Token’s ecosystem.

Squid Moon Token’s Website

Squid Moon Token’s White paper

Squid Moon Token’s Market Capitalization and Liquidity Pool

Use Safu check Squid Moon Token

Developers behind Squid Moon Token

What investors are saying about Squid Moon Token

But first, here is what coinmarketcap said about the token

$SQM is the utility token of the Squid Moon platform. It will play an integral part in all Squid Moon games. Squid Moon’s mission is to become the first legitimate Squid Game token that does it the right way. Each new game that is launched greatly stimulates the $SQM economy by adding liquidity, burning $SQM tokens, and applying buying pressure to the token. As players deposit BNB to participate in games, their bet is utilized in 3 unique ways to support a strong tokenomics model for $SQM.

Personal Opinion


I have a problem with the below statement.

Squid Moon’s mission is to become the first legitimate Squid Game token that does it the right way“.

If you are legitimate, you are legitimate. Your mission shouldn’t be about being legitimate, because your intention from the very beginning should be legitimate and honest. That statement is an own goal and a red flag to me. But let’s keep it going.


Have you heard of Shiryo Inu


Website

Squid games website is unique. It is unlike many in the meme token space. It is engaging, colorful and the language used is easy to understand. I also like the fact that it is SSL secure which gives you a certain level of confidence, that encourages visitors to navigate the website. The description on the website begins by showing you the number of holders (investor) of the token. It also shows you the squid moon has $1 million in liquidity. Whether these are true or not, we will verify them in the latter part of this review.

This big rhetorical question follows immediately.

The truth is, the game isn’t even ready to be played. I found that awkward. The steps of how to play the game followed. We found out that for anyone to play the game (that is yet to launch) you first have to;

1. Place a bet in bnb

2. Guess if there’s an even or odd number on the marble.

3. Increase your score. And maybe collects your share of the price at the end of the game or take your L in peace.

For the price money.

What is however not clear to me is the fact players will compete in ‘a game’…are there going to be other games? I think that wasn’t communicated properly.

An Example was given of how the leadership board would look like, upon launch of the game. Check the website to view it.

Tokenomics

The economics of Squid moon looks complex, may be more difficult for new crypto investors to understand. According to squid moon website.

“Each new game that is launched stimulates the $SQM economy by adding liquidity, burning SQM tokens, and applying buying pressure to the token. As players deposit BNB to participate in games, their bet is utilized in 3 unique ways”

What does this mean? Here’s a breakdown.

Every new Squid moon game that any random player begins. The bnb bet deposited by that player will be distributed to squid moon’s liquidity pool, buybacks and token burns.

In my opinion, Squid moon’s tokenomics is well thought out because, with the regular burning, buyback pressure and improved liquidity. Squid moon token is designed and destined to always increase in price, as long as the game play is addictive, that is.

The road map followed immediately after. The dev team claims to have  created  unique sets of nft to award players. I find this funny. The fact the dev team hasn’t developed the game, but have the rewards ready sounds funny to me. Squid Moon also hasn’t been audited. There are plans to launch the game later this year. Mind you, we are almost in December now. So, this month is most probably the game launch month. If the developers are genuine.

White Paper

Squid moon token unfortunately does not have a white paper.  I have noticed new  tokens are choosing the path of not having a white paper. Making it more difficult to differentiate between legitimate meme coins and scam coins. This to me is not good and will never be. I see this as a red flag for Squid moon.

Market Capitalization and Liquidity Pool

According to poocoin.app, Squid moon’s market cap is currently $15, 666, 279. For a token that just launched a few weeks ago, this is a respectable market cap in my opinion. The market cap indicates a number of people have invested in the project.

The liquidity pool currently is valued at 962,849. About 96%  has been locked in a contract that expires in 6 months.

Making squid oon  relatively safe for investment within that time frame.

According to bscscan.com, holders of the token are about 3958. Remember the website had it at about 4000. This suggests there was some sort of mass sell off. Know that holders are bound to either move up or down.

Safu contract check

I checked the contract on safu, this is what I found out.

Safu sees it as minimally safe for investment.

Developers of  Squid Moon

The developers in my opinion are not doxxed. An attempt was made to deceive with aliases but that’s obviously not being doxed. Undoxxed developers signals danger. The truth is 97% of tokens without doxed owners have proven  to be scams. This to me is a massive red flag.

What (Potential) investors are saying about Squid Moon

On YouTube, investors appear to be excited about the potentials of the squid moon. The reception of the token has been great. Here are some of the comments, I saw.

On twitter, it is exactly the same thing.

On telegram, investors are encouraged to buy more Squid moon tokens, claiming it is undervalued right now.

Conclusion

Squid moon token is a very risky token to invest me. I see it as a 55 risk and 45 opportunity kind of token. It is hard to call it a scam because honestly, it has some level of legitimacy. If you decide to invest in this token, invest what you can afford to lose.

If you enjoyed this review, check out other reviews I have done. You might find a gem that will  make you rich, you never know. Also, leave a comment and tell me what you think. You can also help me by sharing this review with your friends across social media.

4 Comments

  1. Fair review although you should know that the lead dev also launched unitrade 2 years ago and polar sync earlier this year with no issues with either. Polar sync raised $5m in a private funding round before the public sale. The team have a history of delivering on their promises

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